One of Hong Kong’s largest property developers sold a duplex apartment at a record price of HKD 439 million (or USD 56.6 million), shortly after the city’s chief executive Donald Tsang spoke of the possibility of an impending real estate bubble.
Henderson Land said the apartment, which has five bedroom suites, is located on the 68th floor of the “Conduit Road 39” building, and measures 6,157 square feet, which translates to a price of HKD 88,000 per sq foot of usable area.
The developer also said the buyer was a Hong Kong-registered company, but did not disclose the buyer’s name.
Besides offering commanding views of Victoria Harbor, the duplex apartment has its own ballroom, outdoor swimming pool, gym and outdoor yoga area.
Another unit on the same floor sold for HKD 397 million, the New York Times reported.
Prices of luxury real estate have surged in recent months, powered by huge investments from wealthy Chinese from the mainland, in what already ranks as one of the world’s most expensive property markets.
Henderson Land has plans to price a penthouse apartment on the 88th floor of the same building at HKD 100,000 per sq foot.
(Source: The New York Times / PropGOLuxury.com)
